TRANSCRIPT
The Operator: Welcome to THE WIRE. We begin with the silicon battlefield. According to CNBC Technology, Cerebras Systems reported some number revenue of $180 million, falling short of the $194 million consensus estimate. The chipmaker raised its full-year core revenue outlook to between $880 million and $890 million, yet its stock tumbled 14% in extended trading despite CEO Andrew Feldman citing a backlog of $25.4 billion in remaining performance obligations.
The Operator: In stark contrast to that sell-off, according to CNBC Technology, CoreWeave stock surged 18% as some number revenue doubled to $2.6 billion, a 112% increase from the prior year driven by AI compute demand. The company announced a backlog of $104 billion and guided for some number revenue between $3.4 billion and $3.6 billion.
The Operator: Moving to aerospace, according to Yahoo Finance, SpaceX supplier Applied Aerospace & Defense tumbled after reporting a surprise loss in its first earnings report since its June IPO, with shares dropping below their $20 IPO price. Meanwhile, also according to Yahoo Finance, Archer Aviation announced a deal to acquire Boeing's autonomous vehicle subsidiaries, including Wisk Aero, SkyGrid, and Insitu.
The Operator: Finally, on the consumer front, according to CNBC Markets, lettuce prices plunged 16.4% in July, marking the largest one-month decline on record according to the Bureau of Labor Statistics. The drop was driven by a multistate cyclospora outbreak linked to Taylor Farms facilities, which caused major chains like Sweetgreen and Chipotle to report reduced demand.
The Operator: That is the wire. Numbers don't care how loud you type them.
The Operator: That's the show. We're on Spotify and YouTube — if this earned it: like, subscribe, tell a friend. And housekeeping: the machine that writes this gets tuned constantly for cleaner news. The numbers are real; the jokes are not.